The BVRLA took its campaign for a stable used electric vehicle market to the heart of government last week, briefing the No10 team on the challenges being experienced and potential solutions to explore.
While recent headlines often focus on rising used EV sales, faster conversion rates and strong value-for-money opportunities, the association presented additional context that outlines the magnitude of current challenges.
Chief Executive Toby Poston, alongside BVRLA Chair Lakshmi Moorthy, Nick Williams from Lloyds Banking Group, and the BVRLA’s Director of Policy and Public Affairs Thomas McLennan, outlined the consequences of the prolonged fall in residual values. Such falls are placing pressure on balance sheets, new EV leasing costs and investor confidence across the wider transition to zero-emission vehicles.
The No10 team engaged actively with the briefing, demonstrating clear awareness of the BVRLA and the vital role played by the fleet and mobility services sector in delivering the UK’s transport and decarbonisation goals.
The association will continue conversations with government officials as it presses for measures to stabilise and support the used EV market.
